Home / Knowledge / News / Textiles / Uttarakhand to launch new textile parks
Uttarakhand to launch new textile parks
30
May '16
The Uttarakhand government is setting up three textile parks in the Kumaon region. Incentives include a rebate on the land price, besides capital subsidies, reports Shishir Prashant

The Uttarakhand government has launched a mega textile policy under which it will set up a series of textile parks in the Kumaon region by offering a slew of incentives.

Three textile parks in Kashipur, Jaspur and Sitarganj are being set up where a host of incentives will be available to attract new investments under the mega textile policy.

For the allotment of industrial plots the government has made the State Infrastructure and Industrial Development Corporation of Uttarakhand (SIDCUL) the nodal agency under the single window system. The land will be available under the prevailing land price at various places in the three townships. 

Under the policy guidelines, the new project having investment above Rs 75 crore will be christened as a mega textile park project. “The new project and the existing textile industries under expansion within investment above Rs 75 crore will be covered,” said a top government official. The company setting up a new unit will be given a 50 per cent rebate on the land price, the official said.

Under the policy, the allottee has to pay 20 per cent of the land premium at the time of allotment and balance payment is to be deposited within seven years in equal installment on the prevailing rate of interest. The scheme will remain in force till March 31, 2021 (with the commencement of production).

Besides, the government is also offering state capital subsidy. For MSMEs, the capital subsidy will be 15 per cent to a maximum limit of Rs 50 lakh and for heavy industry 15 per cent to a maximum limit of Rs 30 lakh.

The government is also offering an interest subsidy of 7 per cent. Cent percent VAT concession will be given on purchase of raw material and on sale of finish goods for seven years from the start of the production. A rebate of Rs 1 per unit is also available on power bills. There will be 100 per cent stamp duty rebate on the purchase of land. (WE)

 

 

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 29th Jun 2017

Nan Ya files trade petition in US against Korea & Taiwan

Nan Ya Plastics Corporation, America, a US synthetic fibre producer,...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X